TrackPayout: Payment Follow-up Software
Why Automate to get paid Faster Automations across the board save you time and money. And time is money for a busy entrepreneur. But the benefits of automating invoices extend beyond that — especially if cash flow ebbs and flows. Automated invoicing can help you get paid faster. Sample data from 2016 reveals that micro businesses (turnover < Rs10 crore) had a greater burden of delayed payments with median days sales outstanding (DSO) of 79 days, followed by small businesses (turnover < Rs50 crore) at 72 days. Comparatively, large companies enjoyed much quicker payments at a DSO of 56 days. The construction sector was the worst hit, with micro businesses waiting 180 days to receive payments. In manufacturing, micro businesses had a DSO of 85 days compared to 54 days for large corporate entities. Plus, automated invoicing means your books are always up-to-date. Access to real-time financial records and reporting is crucial if you’re always on the go. (You’ll really appreciate...